Likely that by the end of the month Rupee may go down to as low as 70 to USD . Meanwhile, INR crossed 65 mark and Finance Minister , P Chidambaram still assured there is no reason for unwarranted pessimism and that rupee is undervalued and has overshot the appropriate level. 🙂

Finance Minister P Chidambaram appealed for calm and requested people not to panic saying that the sharp falls in domestic markets that sent the rupee to a record low were a reaction to global developments after markets crashed on Friday and rupee hit a record low 62 to USD yet again.

Union Finance Minister is asking people not to worry over rupee’s constant fall. With INR breaking its all time low every other day, the investors, both foreign and domestic are scared to put money in Indian markets.Someone can you please trust P Chidambaram Saab. 😉 All is Well.. All is Well !! 😀